# Council Regulation (EC, Euratom) No 2273/2004 of 22 December 2004 amending Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions, Article 1

Extent: E+W+S+N.I.

Regulation (EC, Euratom) No 2728/94 is hereby amended as follows:
1.. In Article 1, the following subparagraph shall be added:
‘All operations carried out for the benefit of a third country or for the purpose of financing projects in a third country shall fall outside the scope of this Regulation with effect from the date on which that country accedes to the European Union.’;
2.. The following Article shall be inserted:
‘Article 3a Following the accession of a new Member State to the European Union, the target amount shall be reduced by an amount calculated on the basis of the operations referred to in the third subparagraph of Article 1.
In order to calculate the amount of the reduction, the percentage rate referred to in the second subparagraph of Article 3 applicable on the date of accession shall be applied to the amount of those operations outstanding on that date.
The surplus shall be paid back to a special heading in the statement of revenue in the general budget of the European Union.’;
3.. In Article 7, the date ‘31 March’ shall be replaced by ‘31 May’.

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Source: https://www.legislation.gov.uk/eur/2004/2273/article/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2004-2273/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.